Archive: April 30, 2015

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5 Lessons You Can Learn From Shark Tank

April 30, 2015

In case you haven’t watched an episode before, Shark Tank is a popular TV series where entrepreneurs try to convince a group of successful business moguls – the “sharks” of the show – to invest in their startups. Before they make their pitch, each entrepreneur has a baseline for the minimum investment that they wish to obtain. If they don’t reach their minimum, they walk away empty handed. Sometimes more than one “shark” will become interested in a specific startup, and a bidding war or “feeding frenzy” begins, which adds an…

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How Consumers Think About Pricing

April 14, 2015

They are a funny thing, numbers. Often thought to be unemotional, when attached to a dollar sign, the opposite is closer to the truth. When it comes to pricing goods and services, market experts have a lot to say about how numbers connect to consumers’ feelings, and how they think about pricing as a result. A study by researchers in the US found that consumers are more drawn to rounded numbers ($100 even) when making ‘fun’ purchases, for gifts, holidays or recreational purposes, but were more drawn to odd numbers (say, $97.56) if the purchase was for a functional,…

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Business Tips From A Fashion Designer

April 1, 2015

Entering a crowded market and finding a way to compete is difficult, especially when your core business involves one of the creative fields where you actually make, create or build something. Creative types, however, can gain an edge over their more established competitors that follow more traditional business models. They just need to take their unique way of looking at the world and apply it to the way that they do business.

In a recent Open article, the internationally known fashion designer Annie Thompson shared her secrets to making a creative business thrive, despite being in a competitive space. Try some of these strategies to increase your success in a crowded market.

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